What about the Nasdaq?
The Nasdaq futures are currently at 17,415, which is 1,060 points lower than last week. That puts the Nasdaq down just under 6% in a week. This shows that the Nasdaq is more volatile than the AEX.
The Nasdaq is still in an upward trend, but fear drives a temporary pullback. The most likely scenario is that the correction could bring the Nasdaq back into a wide range between 17,000 and 16,200. This broad range is due to its high volatility. From this range, the Nasdaq is expected to resume its upward trend towards the 2024 target of 22,500.
Another important note: The Nasdaq, with its tech stocks, holds great potential but also faces high expectations. Hence, the possibility of a larger correction exists. If the 16,200 level is breached, we cannot rule out further correction in the Nasdaq towards 14,500.
Below is the chart of the Nasdaq100 -future since January 1, 2023. You can see the volatility and uptrend including the sharp correction currently underway.
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